The total spending of the federal authorities in the United Arab Emirates amounted to 24.9 billion dirhams ($6.7 billion) by the end of the second quarter of 2020, while the total revenues reached 34.7 billion dirhams (9.4 billion dollars), thus the value of the budget surplus reached 9.75 billion Dirham ($2.6 billion). According to the financial performance report on the implementation of the general budget of the federal entities, issued by the UAE Ministry of Finance, the budget surplus of the federal entities reached 1.8 billion dirhams ($490 million) during the first quarter of this year, while the second quarter surplus reached about 7.95 billion dirhams ($2.1 billion).
The value of the Ministry of Finance's revenues during the second quarter of this year amounted to 19.451 billion dirhams (5.2 billion dollars), which constitutes about 56 percent of the total revenues of the federal ministries, while the value of the revenues of the Ministry of Human Resources and Emiratisation reached 1.99 billion dirhams (541 million dollars) approximately, and 16. 572 billion dirhams (4.5 billion dollars) are other federal revenues, and the rest of the revenues were distributed among other ministries.
It should be noted that the federal budget is part of the total public spending in the Emirates, while each emirate has its own budget, and the federal budget is an indicator of the official plans for the economy.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
